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For Immediate Release

True Partners Consulting Acquires Affinity Tax Group

Acquisition Bolsters Already Strong Accounting for Income Tax Practice

CHICAGO; October 18, 2011 – True Partners Consulting LLC (TPC), the fastest growing tax consulting firm in the nation, announced today that it has purchased Affinity Tax Group LLC, a New York-based firm. This move expands TPC's strong ASC 740 (formerly FAS 109/FIN 48), tax compliance and state tax service lines. ASC 740 is the set of rules governing how companies report the impact of income taxes on their financial statements.

"The Affinity team brings knowledge and experience in important and complex areas of tax consulting," said Cary McMillan, the firm's Chief Executive Officer. "Adding this expertise to our growing New York practice will provide clients the critical support needed during the upcoming tax season."

The move follows True Partners Consulting's other expansion efforts during the previous 18 months. During that time, the Chicago-based firm has added offices in Manhattan, Dallas and Denver.

Similar to TPC's New York practice, Affinity has worked with both public and privately held corporations as well as private equity firms. Federal tax issues are handled by Peter Crocco, who, prior to joining Affinity, spent a decade at Big Four accounting firms, including a rotation with the National Tax Office of PricewaterhouseCoopers LLP in its Mergers & Acquisition Tax Group in Washington, D.C. and New York.

Wayne Trumbull heads Affinity's State and Local Tax Practice, providing analysis of state tax implications of proposed business reorganizations, analysis of state tax filing for refunds and prospective favorable filing positions and representing clients in state tax controversy matters. Prior to joining Affinity, Wayne had 10 years of experience in the State and Local Tax Practice in the New York Office of Ernst & Young, LLP. Wayne is a member of the New York and Connecticut Bar.

About True Partners Consulting
True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes-Oxley created conflicts inherent in offering both tax consulting and audit services. The firm provides a broad range of tax compliance services such as tax accounting, implementing tax software solutions and tax return reviews and preparation, as well as tax consulting services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients' tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

The firm has offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa Bay, Fla.; Dallas, Denver, Boston; and London. There are also member firms in Beijing and Shanghai, China; Frankfurt, Munich, and Stuttgart, Germany; Hong Kong; Turin, Italy; Selangor, Malaysia; Amsterdam, The Netherlands; Pozna, Warsaw, and Wroclaw, Poland; Singapore; Seoul, South Korea; and Barcelona, Spain, through the True Partners Consulting International network. Additional information can be found at http://www.tpctax.com.

As an expert in the tax field, True Partners Consulting is available to provide content expertise regarding:

  • Federal Tax
  • State and Local Tax
  • International Tax
  • Property Tax
  • Sales and Use Tax
  • Unclaimed Property
  • Transfer Pricing

About Waud Capital Partners
WCP is a leading middle market private equity investment firm founded in 1993 that partners with exceptional management teams to invest in growth equity investments, industry consolidations, buyouts and recapitalizations. The firm seeks to invest $10 million to $100 million in private companies in the following four areas: healthcare services, business and consumer services, specialty distribution and value-added industrial businesses. Typically, the companies in which WCP invests have enterprise values between $30 million and $300 million.

For additional information on WCP, visit the firm's website at www.waudcapital.com.

MEDIA CONTACTS:
Sean Dougherty
212-704-7385
sean@dukaspr.com

Brad Nelson
212-704-7385
brad@dukaspr.com

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